View more on these topics

Threadneedle move widens access to its property fund

Threadneedle Investments has moved its property fund offshore in a bid to make it available to a wider audience.

Formerly the Sackville property unit trust, the fund is being relocated from the UK to Jersey.

In its previous incarnation as an unauthorised exempt UK unit trust, only UK pensions and charities were able to invest in it. It will now be open to direct investors with a minimum investment of £250,000, which decreases to £25,000 for clients of recognised financial advisers.

The fund has no initial charge but there is an annual charge of 1.25 per cent, with renewal commission of 0.5 per cent. There is a bid/offer spread of around 7.5 per cent.

Threadneedle has £3bn of real estate assets under management spread across 4,000 properties.

Threadneedle Property Investments director Don Jordison says: “We believe that property is still an attractive asset class. The yield on the Investment Property Databank index is 7 per cent – higher than the gilt market or investment-grade bonds.

“We are pragmatic investors. We avoid greenfield development and flagship offices. We prefer to locate a sound spread of buildings, both industrial and commercial, which we can buy on attractive terms and whose value we can enhance by careful investment.

“What has damaged property values in previous cycles has been excessive speculative development. This has resulted in a bulge of unlet buildings which has ruined valuations. But this has not hap- pened in recent years. All the excess capital seems to have been wasted on telecommunications networks instead. This means we should be moving into an economic recovery with little development in the pipe-line, which bodes well for the protection of capital and should provide good prospects of sustainable returns.”


SLI guarantees growth on fund

Scottish Life International is guaranteeing a return of at least 10.2 per cent over five years and two months on its protected term deposit – series 1 fund.SLI says the fund is lower risk than with-profits and offers the potential for further gains of up to 51 per cent dependent on the performance of the […]

Duncan Smith attacks Chancellor for failure to act on pensions

Iain Duncan Smith has accused the Chancellor of being opposed to savings and pensions, branding stakeholder a failure and criticising the Government for not tackling annuity reform.In a speech answering Gordon Brown&#39s budget speech, Iain Duncan Smith said that the Government&#39s flagship pension has failed to reach its target audience.The Government said it was concerned […]

N&P ups fixed bond rates

Norwich and Peterborough Building Society has announced it is increasing the rates of interest it pays on its six month and one year fixed rate bonds. The rate on maturity on the six month product is now 3.32 per cent up from 3.16 per cent or 3.26 per cent from 3.10 per cent if paying […]

Tories to call for wider use of PMI

Conservative leader Ian Duncan Smith will reject expected tax rises in this week&#39s budget, proposing wider use of private medical insurance and pay as you go treatment instead.According to the Sunday Telegraph, Duncan Smith will oppose what has been tipped to be as high as £7bn in tax rises to pay for the NHS.

Oil industry: only the fittest will survive

The actions of OPEC have forced the oil supply to fall and producers to cut costs and rationalise, says Richard Hulf In an interview with journalist Alexis Xydias, Richard Hulf, manager of the Artemis Global Energy Fund, explains the impact of the fall in the oil price on energy companies. Alexis also quizzes Richard on […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm